FinanceMalta attends its first World Alliance of International Financial Centres board of directors meeting

FinanceMalta participated in the Board of Directors’ and Extraordinary General Meeting of the World Alliance of International Financial Centers (WAIFC) in London on 18-21 April.

This was FinanceMalta’s first presence at the meeting of the Board of Directors, having been officially accepted as a member of the WAIFC in October 2022.

During the meeting, FinanceMalta was presented with its official membership certificate by Jochen Biedermann, managing director of WAIFC. Ivan Grech, CEO of the Institute of Financial Services Practitioners (IFSP), who attended the meeting on behalf of FinanceMalta, formally received the certificate.

Set up in 2018, WAIFC is a non-profit association based in Brussels to facilitate the cooperation between financial centres, the exchange of best practices, and communication with the general public.

Relations between FinanceMalta and WAIFC were established in 2020, followed by a two-year arduous journey to full WAIFC membership, as part of FinanceMalta’s drive to raise the profile and influence of the Maltese financial services jurisdiction at international level.

Speaking about Malta’s presence at the meeting of the board of directors, FinanceMalta chairman George Vella said: “The WAIFC is the ideal forum to position Malta as a reputable, innovative financial centre. Participating in the activities of the Alliance is instrumental to raise the international profile of Malta as a jurisdiction, not only in the traditional sectors of the industry, but also in the emerging ones that are high on the international agenda, such as financial technology and sustainable finance. We want to benefit from the experience of the fellow members of the Alliance, and we are determined to provide our insight in order to contribute to the success of the various projects promoted by the WAIFC.”

The WAIFC board of directors meeting 2023 was hosted by TheCityUK, the industry-led body representing UK-based financial and related professional services. As part of the meeting, FinanceMalta had the opportunity to attend a series of encounters with core public and private sector stakeholders in the financial services industry, both within the UK and globally.

These events included a meeting at Guildhall with Chris Hayward, Chair of the Policy Committee, City of London Corporation, on the role of financial centres in a fast-changing global economy. Another meeting was held with the UK’s financial services regulator, the Financial Conduct Authority (FCA), on regulatory challenges and developments in global financial services.

Participants also attended TheCityUK International Conference on global collaboration for sustainable growth. They were also hosted to lunch by Sir Peter Estlin to discuss the role of the Lord Mayor of the City of London in promoting the City as an international financial centre.

In another event, a presentation was delivered by London & Partners, an agency that promotes London across the world, on how it markets London as a top European financial market. This was followed by a discussion on how the different financial centres represented at the meeting formulate and execute their promotional strategies.

The programme of events also included an visit to Rise London, a successful fintech hub set up by Barclays, which focuses on collaboration between global innovators that shape the future of financial services.